CSP Key Level Finder This script is designed for option sellers, particularly those using strategies like cash-secured puts (CSPs), to help automate the process of identifying key levels in the market. The core functionality is to calculate a specific price level where a 5% return can be achieved based on the historical volatility of the underlying asset. This level is visually plotted on a chart to guide traders in making more informed decisions without manually calculating the thresholds themselves.
The script incorporates implied volatility (IV) data to determine the volatility rank of the asset and calculates historical volatility (HV) based on price movements. These volatility measures help assess market conditions. The resulting key level is drawn as a line on the chart, along with a label that includes relevant information about volatility, making it easier for traders to evaluate potential option selling strategies.
Additionally, the script includes user input options, allowing users to control when to display the key level on the chart, offering flexibility based on individual needs. Overall, the script provides a visual aid for option sellers to streamline the process of identifying attractive entry points.
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Line Chart ShiftedThis indicator is designed to assist traders who rely on both line charts and candlestick patterns in their technical analysis. By plotting the closing price from previous bars and shifting it left by a customizable amount, this indicator overlays a line chart directly onto a candlestick chart, giving traders a clearer view of trends and key levels.
Key Features:
Shifted Close Price: The line is plotted based on the closing prices of the previous 3 candles, providing an advanced view of the market's price movements.
Customizable Line Width and Color: Traders can easily modify the thickness and color of the line to match their charting style or improve visibility when analyzing price action.
How It Helps:
Combines Line and Candlestick Charts: For traders who analyze both line and candlestick charts, this indicator provides an effective way to see how price has been evolving, helping to identify support, resistance, and trend lines more easily.
Enhanced Visualization: By shifting the line slightly to the left, the overlay offers a clean separation between the current candlestick and the historical line, improving clarity and making it easier to spot trends.
Mode For Loop | viResearchMode For Loop | viResearch
Conceptual Foundation and Innovation
The "Mode For Loop" indicator introduces a novel approach to market analysis by incorporating the mode calculation into a dynamic scoring system. The mode, which represents the most frequent price over a specified period, provides a robust measure of price centrality that can filter out random fluctuations and offer a clear picture of market trends. Combined with a loop-based evaluation system, this indicator generates a score that helps traders identify potential trend reversals and the strength of ongoing trends. By comparing the current mode with past values over a defined range, the "Mode For Loop" script offers traders a comprehensive tool for understanding market momentum and trend dynamics.
Technical Composition and Calculation
The "Mode For Loop" script consists of two key elements: Mode Calculation and the For Loop Scoring System. The mode represents the most frequent price point within a user-defined length. This value is calculated from the selected source price (e.g., close) and provides a smoothed central price that reflects market consensus over the period. The for loop compares the current mode to historical mode values over a customizable range. The score is calculated by evaluating whether the current mode is higher or lower than past values. A positive score indicates upward momentum, while a negative score suggests downward momentum.
For the Mode Calculation, the mode is determined using the ta.mode function, which identifies the most common price over the selected length. The loop iterates over the defined range (from and to), comparing the current mode to historical values. The score is updated by adding or subtracting based on whether the current mode is greater than or less than the past values, resulting in a total score that reflects the trend direction.
Features and User Inputs
The "Mode For Loop" script offers multiple customizable inputs, allowing traders to fine-tune the indicator to suit their strategies. The Mode Length defines the period over which the mode is calculated, controlling how the indicator smooths out price fluctuations and identifies central price trends. The Loop Range (From and To) allows users to set the range over which the mode is compared to previous values, offering flexibility in assessing trend strength over different time horizons. Customizable thresholds determine when the score signals an uptrend or downtrend, allowing traders to adjust the indicator’s sensitivity to market conditions.
Practical Applications
The "Mode For Loop" indicator is designed for traders who want to leverage the mode’s ability to filter out noise and focus on the most frequent price points. This tool can be particularly effective for detecting trend reversals, as the loop-based scoring system provides early signals of potential reversals by comparing the current mode with past values. This helps traders act before significant market shifts occur. The indicator also excels at confirming trend strength. By analyzing the mode across a range of past values, it offers a clearer view of the strength and sustainability of trends, improving trade entry and exit points. The customizable parameters enable traders to adapt the indicator to various market conditions, making it suitable for both short-term and long-term trading strategies.
Advantages and Strategic Value
The key advantage of the "Mode For Loop" script is its ability to provide a more stable and central measure of price trends using the mode calculation, while also applying a dynamic scoring system for enhanced trend detection. This combination offers traders a more reliable tool for reducing false signals and improving the accuracy of trend-following strategies. The mode’s focus on the most frequent price makes it a robust choice for understanding true market behavior, while the loop-based evaluation ensures that trends are analyzed comprehensively.
Alerts and Visual Cues
The script includes alert conditions to notify traders of key trend signals. The "Mode For Loop Long" alert signals a potential upward trend when the score exceeds the upper threshold, while the "Mode For Loop Short" alert indicates a possible downward trend when the score falls below the lower threshold. The indicator also includes visual cues, with background colors changing when the score crosses key levels, helping traders quickly identify potential shifts in market direction.
Summary and Usage Tips
The "Mode For Loop | viResearch" indicator offers a powerful combination of mode-based price smoothing and dynamic trend scoring, giving traders a detailed and responsive tool for trend analysis. By incorporating this script into your trading system, you can improve your ability to detect and confirm trends while minimizing the impact of market noise. Whether you're focused on capturing early trend reversals or confirming ongoing trends, this indicator provides a reliable and flexible solution.
Note: Backtests are based on past results and are not indicative of future performance.
Duo Multi-Time Period Charts# Duo Multi-Time Period Charts
## Description
The Duo Multi-Time Period Charts indicator is a versatile tool designed to visualize price action across two different timeframes simultaneously. It overlays color-coded boxes on your chart, representing the price range for each period in both timeframes. This allows traders to easily identify trends, support, and resistance levels across multiple time horizons.
## Key Features
- Displays two user-defined timeframes (default: Daily and Weekly)
- Customizable calculation methods: High/Low Range, True Range, or Heikin Ashi Range
- Color-coded boxes for easy trend identification (bullish/bearish)
- Optional labels showing open and/or close prices
- Fully customizable colors for boxes and labels
## How It Works
1. The indicator creates boxes for each period in both selected timeframes.
2. Box colors change based on whether the close is higher (bullish) or lower (bearish) than the open.
3. Box heights are determined by the selected calculation method:
- High/Low Range: Uses the period's high and low
- True Range: Incorporates the previous close for more volatility representation
- Heikin Ashi Range: Uses a modified candlestick calculation for smoother trends
4. Optional labels display open and/or close prices for each period.
## Use Cases
- Multi-timeframe analysis: Compare short-term and long-term trends at a glance
- Support and resistance identification: Easily spot key levels across different timeframes
- Trend confirmation: Use the color-coding to confirm trend direction and strength
- Volatility assessment: Compare box sizes to gauge relative volatility between timeframes
## Customization
Users can customize various aspects of the indicator, including:
- Timeframes for analysis
- Calculation method for price ranges
- Color schemes for bullish and bearish periods in both timeframes
- Label content and colors
- Visibility options for boxes and labels
## Recommendation
For optimal clarity, it is recommended to enable price labels for only one timeframe. Displaying labels for both timeframes simultaneously may lead to cluttered and difficult-to-read charts, especially on shorter timeframes or when the two selected periods are close in duration.
This indicator is perfect for traders who want to incorporate multi-timeframe analysis into their trading strategy without cluttering their charts with multiple indicators. By following the label recommendation, users can maintain a clean chart while still benefiting from the multi-timeframe insights provided by the indicator.
Activity and Volume Orderflow Profile [AlgoAlpha]🔍 Activity and Volume Orderflow Profile 📊
🚀 Unlock the power of market order flow analysis with the Activity and Volume Orderflow Profile indicator by AlgoAlpha . This versatile tool helps you visualize and understand the dynamics of buying and selling pressure within a specified lookback period. Perfect for traders who want to dig deeper into volume-based market insights!
Key Features:
📊 Profile Type Options : Choose between "Comparison" and "Net Order Flow" to analyze market activity based on your preferred method.
🔎 Adjustable Lookback Period : Customize the lookback period to fit your trading strategy.
🎨 Flexible Appearance Settings : Toggle the display of the profile, lookback period visualization, and heatmap to suit your preferences.
🖍 Color Customization : Set your preferred colors for up and down volumes.
🕹 High Activity Highlight : Use the minimum transparency setting to highlight areas of significant activity.
Quick Guide to Using the Activity and Volume Orderflow Profile
🛠 Add the Indicator: Add the indicator to your favorites. Customize settings like profile type, lookback period, and resolution to fit your trading style.
📊 Market Analysis: Use the profile to identify areas of high buying or selling pressure. In "Comparison" mode, look for significant volume differences; in "Net Order Flow" mode, focus on net volume changes. Additionally, you can use the activity heatmap to find key levels that can act as support and resistance as price is likely to react to the zones as indicated by the heatmap.
How it Works:
The indicator operates by first gathering data on high and low prices, as well as buy and sell volumes, over a user-defined lookback period. It then calculates the maximum and minimum prices during this period and divides this range into bins based on the chosen resolution. For each bin, it computes the total volume of buy and sell orders. In "Comparison" mode, it displays side-by-side boxes representing buy and sell volumes, while in "Net Order Flow" mode, it shows the net volume difference. The indicator visually presents these profiles on the chart with customizable colors, transparency levels, and the option to display a heatmap for enhanced volume activity insights.
Maximize your trading with the Activity and Volume Orderflow Profile from AlgoAlpha! 🚀✨
Smart Market Structure and Swing Points, version 1.0Smart Market Structure and Swing Points, Version 1.0
Overview
The Smart Market Structure and Swing Points script is designed to provide advanced insights into market structure and key swing points. This script helps identify important highs and lows, trend direction changes (structure breaks), and swing points, enhancing decision-making for both trend-following and reversal strategies. See below for detail presentation and why it has unique features.
Unique Features of the New Script
Market Structure Identification : Analyzes and marks key highs and lows to determine market structure, including higher highs, lower highs, higher lows, and lower lows.
Customizable Detection Length : Allows users to set the length for detecting highs and lows, providing flexibility to adapt to different market conditions and timeframes. Default value is 5 bars, but can be changed if needed.
Visual Signal Indicators (Labels) : Plots labels on the chart to indicate higher highs (HH), lower highs (LH), higher lows (HL), and lower lows (LL), along with corresponding RSI values, offering clear visual cues for market structure analysis. The indication of RSI values directly on high and low points enables to better judge whether the points are strong references (extreme RSI values) or weak references (middle RSI values)
Dynamic Trend Lines : Draws solid and dotted lines to connect significant highs and lows, visually representing the current trend direction and potential trend changes. Dashed lines indicates structure breaks.
Swing High and Swing Low Detection : Identifies and marks the most recent swing highs and swing lows, helping traders spot potential reversal points and key levels for setting stop losses or take profit targets .
Originality and Usefulness
This script combines market structure, trend breaks and RSI to provide a more robust view of market dynamic by indicating the strength or weakness of swing points , in that way the script is unique.
Signal Description
The script includes various signal features that highlight potential trading opportunities based on market structure:
Higher Highs (HH) and Higher Lows (HL) : These labels are plotted when new highs or lows are formed, indicating a continuation of an uptrend. The labels are positioned with consideration of the Average True Range (ATR) for better visibility.
Lower Highs (LH) and Lower Lows (LL) : These labels are plotted when new highs or lows are formed, indicating a continuation of a downtrend. The labels include RSI values to provide additional information on the strength or weakness of the points.
Trend Direction Change : Dotted lines are drawn to indicate potential trend direction changes when the script detects significant shifts in market structure.
Swing Highs and Swing Lows : These are identified based on a customizable swing length, marking recent significant highs and lows to highlight potential reversal points.
These signals help identify high-probability turning points and confirm trend direction by ensuring that the market structure aligns with the trading strategy.
Detailed Description
Input Variables
Length for High/Low Detection (`length`) : Defines the range to check for highs and lows. Default is 5.
RSI Length (`rsilength`) : The number of periods to calculate the RSI. Default is 14.
Functionality
Market Structure Calculation : The script determines the highest high and lowest low within the specified range to identify key points in market structure.
```pine
h = ta.highest(high, length * 2 + 1)
l = ta.lowest(low, length * 2 + 1)
```
Directional Logic : Variables and functions manage the state of the indicator, updating highs and lows based on the current trend direction.
```pine
var bool dirUp = false
var float lastLow = high * 100
var float lastHigh = 0.0
// Additional variables for tracking state
```
Drawing Lines and Labels : Functions draw lines and labels on the chart to visualize market structure and trend changes.
```pine
f_drawLine() =>
_li_color = dirUp ? color.red : color.lime
line.new(x1=timeHigh - length, y1=lastHigh, x2=timeLow - length, y2=lastLow, color=_li_color, width=3, style=line.style_solid, xloc=xloc.bar_index)
f_drawLastLine() =>
_li_color = dirUp ? color.blue : color.blue
if timeHigh > timeLow
line.new(x1=timeHigh - length, y1=lastHigh, x2=bar_index, y2=low, color=_li_color, width=2, style=line.style_dotted, xloc=xloc.bar_index)
else
line.new(x1=timeLow - length, y1=lastLow, x2=bar_index, y2=high, color=_li_color, width=2, style=line.style_dotted, xloc=xloc.bar_index)
```
Updating Highs and Lows : The main logic updates highs and lows based on the current trend direction, adding labels for new higher highs, lower highs, higher lows, and lower lows.
```pine
if dirUp
if f_isMin(length)
lastLow := low
// Additional logic for updating lows and labels
if f_isMax(length) and high > lastLow
lastHigh := high
// Additional logic for updating highs and labels
dirUp := false
li := f_drawLine()
```
Swing Highs and Lows : The script identifies recent swing highs and swing lows based on a customizable swing length, drawing lines to mark these points.
```pine
swingLength = 3 * length
isSwingHigh = ta.highestbars(high, swingLength) == 0
isSwingLow = ta.lowestbars(low, swingLength) == 0
if (isSwingHigh)
if (na(highLine))
highLine := line.new(bar_index, high, bar_index, high, color=color.green, style=line.style_solid, width=1)
else
line.set_xy1(highLine, bar_index, high)
line.set_xy2(highLine, bar_index + swingLength, high)
if (isSwingLow)
if (na(lowLine))
lowLine := line.new(bar_index, low, bar_index, low, color=color.red, style=line.style_solid, width=1)
else
line.set_xy1(lowLine, bar_index, low)
line.set_xy2(lowLine, bar_index + swingLength, low)
```
How to Use
Configuring Inputs : Adjust the detection length and RSI length as needed. Modify the lookback periods to suit your trading strategy. The indicator is adaptable and can be used on any timeframe.
Interpreting the Indicator : Use the labels and lines to gauge market structure and trend direction. Look for higher highs, lower highs, higher lows, and lower lows to confirm market structure.
Signal Confirmation : Pay attention to the labels and lines that provide signals for potential trend changes and swing points. Use these signals to better time entries and exits.
This script provides a detailed view of market structure and swing points, helping make more informed decisions by considering key highs and lows, trend direction changes, and the strength or weakness of swing points.
MTF OB Supply Demand ZonesHello everyone,
This exceptional indicator provides you with visual representations of bullish and bearish order blocks or supply and demand zones across multiple timeframes. In simple terms, bullish order blocks are represented by a small red candle followed by a large red candle, while bearish order blocks are depicted as a small green candle followed by a large red candle. Supply and demand zones are drawn by using order blocks.
Features:
Display order blocks from up to three different timeframes.
Customize the maximum number of boxes shown and the colors of the zones.
Choose from three different modes: OB (Order Block), Extended OB, and Supply/Demand.
Mode Descriptions:
OB: Includes the body of the candle.
Extended OB: Encompasses the body and wick of the candle.
Supply/Demand: Covers the body, wick, and half the body of the large candle.
Usage:
Ensure that charts 2 and 3 are set to a higher timeframe. For modes 2 and 3, it’s recommended to reduce the maximum number of boxes shown. The zones or boxes are transparent, allowing for overlap. This feature aids in identifying reversal zones or confirmed zones. The more intense the color, the stronger the confirmation. If a green zone overlaps a red zone (or vice versa), it signifies a reversal zone.
Thank you for checking out this indicator!
---
Additional Information:
Order blocks refer to specific price areas where large market participants, such as institutional traders, have previously placed significant buy or sell orders. These clusters of orders can impact price movement, liquidity, and market sentiment.
Order blocks are a strategic approach to identifying key levels of support and resistance based on the behavior of institutional traders. These key levels are then utilized as entry or exit points for trades.
An order block is an area where there has been a large concentration of limit orders awaiting execution. These blocks are identified on a chart by observing previous price action and pinpointing areas where the price experienced significant movement or abrupt changes in direction.
Order blocks are used in the following popular trading philosophies:
Smart Money Concepts (SMC)
Inner Circle Trading (ICT)
Price Action
---
Credits to: @AGFXTRADING
1 Year Historical Trend AnalyzerHey everyone!
This is a new indicator of mine. If you know me, you know I really like Z-Score and there are a lot of cool things that can be done with Z-Score, especially as it pertains to trading!
This indicator uses Z-Score but in a different way from conventional Z-Score indicators (including mine). It uses Z-Score to plot out the current 1 year trend of a stock. Now, 1 year trend is not year to date (i.e. if we are in April, it is not just looking from January to April), but instead, its taking the last 1 trading year of candle data to plot out the trend, ranges and areas of z-score math based supports and resistances.
How it works:
The indicator will look at the current timeframe you are on, whether it be daily, 1 hour, 4 hours, weekly or even monthly. It will then look back the designated amount of candles that constitute 1 trading year. These are preprogrammed into the indicator so it knows to look back X number of Candles based on Y timeframe. This will give you a standard, scaled version of the past 1 year of trading data.
From there, the indicator will calculate the MAX Z-Score (or the highest Z-Score that the stock reached over the 1 trading year) and the MIN Z-score (or the lowest Z-Score that the stock reached over the 1 trading year). It plots these as a red and green line respectively:
It will then display the price that the MAX and MIN fall at. Keep in mind, the MAX and MIN price will change as the trading time elapses, but the Z-Score will remain the same until the stock does a lower or higher move from that z-score point.
It will then calculate the mean (average) of the Max and Min and then the mid points between the max and mean, and the min and mean. These all represent mathematical areas of support and resistance and key levels to watch when trading.
The indicator also has a table that is optional. The table can be toggled to either Auto or Manual. Auto will automatically calculate 5 Z-Score Points that are within the proximity of the annual trading range. However, you can select manual and input your own Z-Score values to see where the prices will fall based on the 1 year of data.
Some other options:
You can toggle on and off these midline support and resistance levels in the settings menu. Additionally, you can have the indicator plot actual scaled candles of the 1 year trading history. This is a great function to really see how the support and resistance works. Let’s take a look at RIVN, plotted as candles, on the 1 hour timeframe:
In this diagram, we can see two recent points in March where the Z-Score has acted as support for the stock. If we view this in conjunction with the actual ticker, you can see these were great buy points:
Do get this functionality, simply go into the plots menu in the settings menu and select “Plot as Candles”.
How to Use it:
While I have discussed some applications of the indicator, namely identify math supports and resistances, targets and such, there are some key things I really want to emphasize that this indicator excels at. I am going to group them for greater clarity:
All time Highs and All Time Lows:
AXP has recently been pushing ATHs. When a stock breaks an ATH or an ATL, it is said that there is no resistance or support. However, with Z-Score that is never true, there are always areas of math resistance and support. We can use this indicator to identify such areas. Let’s look at AXP:
Using this as a reference, we can see that AXP broke out of a Z-Score resistance level and re-tested the resistance as support. It held and continued up. We can see that the next area of math resistance is at 270:
And 234.65 is support. We would look for the ticker to hold this 234.65 line as support to continue the move up to the 270s.
Similar setup for ATLs with RIVN:
We can see that RIVN can indeed make a new ATL because support isn’t until 7.63.
Technical Tips on How to Use:
Because this indicator uses predefined lookback periods based on timeframes, its important that you are analyzing the data with pre-market turned off. The candles are calculated with the assumption that there is no pre-market data.
As well, the lowest timeframe that can be used to get 1 year worth of data is 1 hour. Anything below 1 hour will require you to manually input a lookback length (default is 252) which will be less than 1 year. This is simply because of the limitations of candle lookbacks through Pinescript.
That is not to say that this is not effective on smaller timeframes, it is! You just need to be sure that you understand you are not looking at a year trend worth of data. You can toggle your manual lookback parameters in the settings menu.
Concluding remarks
And that’s the indicator! I know the explanation is lengthy but I really suggest you read it carefully to understand how the indicator works and how you can best use it to analyze tickers and supplement your strategy.
Thanks for reading and safe trades as always!
GG - LevelsThe GG Levels indicator is a tool designed for day trading U.S. equity futures. It highlights key levels intraday, overnight, intermediate-swing levels that are relevant for intraday futures trading.
Terminology
RTH (Regular Trading Hours): Represents the New York session from 09:30 to 17:00 EST.
ON Session (Overnight Session): Represents the trading activity from 17:00 to 09:29 EST.
IB (Initial Balance): The first hour of the New York session, from 09:30 to 10:30 EST.
Open: The opening price of the RTH session.
YH (Yesterday's High): The highest price during the RTH session of the previous day.
YL (Yesterday's Low): The lowest price during the RTH session of the previous day.
YC (Yesterday's Close): The daily bar close which for futures gets updated to settlement.
IBH (Initial Balance High): The highest price during the IB session.
IBL (Initial Balance Low): The lowest price during the IB session.
ONH (Overnight High): The highest price during the ON session.
ONL (Overnight Low): The lowest price during the ON session.
VWAP (Volume-Weighted Average Price): The volume-weighted average price that resets each day.
Why is RTH Important?
Tracking the RTH session is important because often times the overnight session can be filled with "lies". It is thought that because the overnight session is lower volume price can be pushed or "manipulated" to extremes that would not happen during higher volume times.
Why is the ON Session Important Then?
Just because the ON session can be thought as a "lie" doesn't mean it is relevant to know. For example, if price is stuck inside the ON range then you can think of the market as rotational or range-bound. If price is above the ON range then it can be thought of as bullish. If price is below the ON range then it can be thought as bearish.
What is IB?
IB or initial balance is the first hour of the New York Session. Typically the market sets the tone for the day in the first hour. This tone is similarly a map like the ON session. If we are above the IBH then it is bullish and likely a trend day to the upside. If we are below the IBL then it is bearish and likely a trend day to the downside. If we are in IB then we want to avoid conducting business in the middle of IBH and IBL to avoid getting chopped up in a range bound market.
These levels are not a holy grail
You should use this indicator as guide or map for context about the instrument you are trading. You need to combine your own technical analysis with this indicator. You want as much context confirming your trade thesis in order to enter a trade. Simply buying or selling because we are above or below a level is not recommended in any circumstance. If it were that easy I would not publish this indicator.
Adjustments
In the indicator settings you can adjust the RTH, ON, and IB session-time settings. All of the times entered must be in EST (Eastern Standard Time). You may want to do this to apply the levels to a foreign market.
Examples
Implied Orderblock Breaker (Zeiierman)█ Overview
The Implied Order Block Breaker (Zeiierman) is a tool designed to identify enhanced order blocks with imbalances. These enhanced order blocks represent areas where there is a rapid price movement. Essentially, this indicator uses order blocks and suggests that a swift price movement away from these levels, breaking the current market structure, could indicate an area that the market has not correctly valued. This technique offers traders a unique method to identify potential market inefficiencies and imbalances, serving as a guide for potential price revisits.
The indicator doesn't scan for imbalances in the traditional sense — where there's an absence of trades between two price levels — but instead, it identifies quick movements away from key levels that suggest where an imbalance might exist. Relying on crossovers and cross-unders in conjunction with pivot points and examining the high/low within the same period provides an innovative method for traders to spot these potentially undervalued or overvalued areas in the market. These inferred imbalances can be crucial for traders looking for price levels where the market might make significant moves.
█ How It Works
Bullish
Crossover: The closing price of a bar crosses above a pivot high, which is an indication that buyers are in control and pushing the price upwards.
New Low Within Period: There is a lower low within the same period as the pivot high. This suggests that after setting a high, the market pulled back to set a new low, potentially leaving a price gap on the way up as the price quickly recovers.
Bearish
Crossunder: The closing price of a bar crosses under a pivot low, indicating that sellers are taking control and driving the price down.
New High Within Period: There is a higher high within the same period as the pivot low. This condition suggests that the market rallied to a new high before falling back below the pivot low, potentially leaving a gap on the way down.
█ How to Use
The enhanced order blocks are often revisited, and the price may aim to 'fill' the potential imbalance created by the rapid price movement, thereby presenting traders with potential entry or exit points. This approach aligns with the idea that imbalances are frequently revisited by the market, and when combined with the context of Order Blocks, it provides even more confluence.
Example
Here, if the price drops rapidly after setting a new high—crossing under the pivot low—it may skip over certain price levels, creating a 'gap' that signifies an area where the price might have been overvalued (imbalance), which the market may revisit for a potential price correction or revaluation.
█ Settings
Period: Determines the number of bars used for identifying pivot highs and lows. A higher value gives more significant but less frequent signals, while a lower value increases sensitivity but might give more false positives.
Pivot Surrounding: Specifies the number of candles to analyze around a pivot point. Increasing this value broadens the analysis range, potentially capturing more setups but possibly including less significant ones.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Monitor XThe Monitor X Indicator is a dynamic tool designed for any trading symbol, providing a quick and intuitive snapshot of price action relative to the latest closing level. With a user-friendly interface, this indicator allows traders to effortlessly gauge price movement and key levels.
Key Features:
1. Symbol Agnosticism:
Universally applicable to any trading symbol, the Monitor X Indicator ensures versatility and adaptability across various financial instruments.
2. Instant Price Insight:
Obtain immediate clarity on current market dynamics with a single glance. The indicator prominently displays the price line, facilitating swift analysis.
3. Last Close Comparison:
Easily assess the price's relationship to the most recent closing level. This feature provides valuable context for understanding market sentiment and potential support/resistance areas.
4. Customizable Display:
Tailor the indicator to your preferences with adjustable settings for line color, width, and opacity. This customization empowers traders to align the indicator with their unique trading strategies.
5. Intuitive Interface:
The clean and intuitive interface ensures a seamless user experience. Access crucial information effortlessly, allowing for quick decision-making.
How to Use:
1. Symbol Selection:
Apply the Monitor X Indicator to any trading symbol of your choice, ensuring a versatile tool for your entire portfolio.
2. Last Close Analysis:
Quickly assess how the current price relates to the previous close. This instant comparison aids in identifying potential entry and exit points.
3. Customization for Precision:
Fine-tune the indicator's appearance to suit your preferences. Adjust line colors, widths, and opacity settings for a personalized and efficient trading experience.
4. Swift Decision-Making:
Utilize the Monitor X Indicator for rapid decision-making. Gain insights into market movements at a glance, allowing you to stay ahead in dynamic trading environments.
London BreakOut ClassicHey there, this is my first time publishing a strategy. The strategy is based on the London Breakout Idea, an incredibly popular concept with abundant information available online.
Let me summarize the London Breakout Strategy in a nutshell: It involves identifying key price levels based on the Tokyo Session before the London Session starts. Typically, these key levels are the high and low of the previous Tokyo session. If a breakout occurs during the London session, you simply follow the trend.
The purpose of this code
After conducting my research, I came across numerous posts, videos, and articles discussing the London Breakout Strategy. I aimed to automatically test it myself to verify whether the claims made by these so-called trading gurus are accurate or not. Consequently, I wrote this script to gain an understanding of how this strategy would perform if I were to follow its basic settings blindly.
Explanation of drawings on the chart:
Red or Green Box: A box is drawn on our chart displaying the exact range of the Tokyo trading session. This box is colored red if the trend during the session was downward and green if it was upward. The box is always drawn between the high and the low between 0:00 AM and 7:00 AM UTC. You can change the settings via the Inputs "Session time Tokyo" & "Session time zone".
Green Background: The green background represents the London trading session. My code allows us to make entries only during this time. If we haven't entered a trade, any pending orders are canceled. I've also programmed a timeout at 11 pm to ensure every trade is closed before the new Tokyo session begins.
Red Line: The red line is automatically placed in the middle of our previous Tokyo range. This line acts as our stop loss. If we cross this line after entering a trade but before reaching our take profit, we'll be stopped out.
When do we enter a trade?
We wait for a candle body to close outside of the previous Tokyo range to enter a trade with the opening of the next candle. We only enter one trade per day.
Where do we put our Take Profit?
The code calculates the exact distance between our entry point and the stop loss. We are trading a risk-reward ratio of 1:1 by default, meaning our take profit is always the same number of pips away from our entry as the stop loss. The Stop Loss is always defined by the red line on the chart. You can change the risk-reward ratio via the inputs setting "CRV", to see how the result changes.
What is the purpose of this script?
I wanted to backtest the London breakout strategy to see how it actually works. Therefore, I wrote this code so that everybody can test it for themselves. You can change the settings and see how the result changes. Typically, you should test this strategy on forex markets and on either 1Min, 5 Min, or 15 Min timeframe.
What are the results?
Over the last 3-6 months (over 100 trades), trading the strategy with my default settings hasn't proven to be very successful. Consequently, I do not recommend trading this strategy blindly. The purpose of this code is to provide you with a foundation for the London Breakout Strategy, allowing you to modify and enhance it according to your preferences. If you're contemplating whether to give it a try, you can assess the results from the past months by using this code as a starting point.
NCI Trading Plan (Individual Asset)NCI Trading Plan (Individual Asset)- By LightNCI
NCI, which stands for New Concept Integration by Jayce PHAM, is a comprehensive approach that incorporates various critical aspects of trading to provide a logical, structured, and integrated approach to the financial markets. NCI covers market structure, key levels, smart money concepts, multiple timeframes and market cycles
About the NCI Trading Plan (Individual Asset) Indicator
The NCI Trading Plan is just a table allowing traders to keep track of a single asset, but multiple timeframe status on a single table, ensuring a comprehensive overview of trading statuses and strategies for each timeframe. The status is not automatically update. Using the NCI strategy, you may update it yourself the status of each timeframe.
Features
1. Display column for Daily, H4, H1, M15, M5, M1: Designed to support multi-timeframe analysis.
2. Direction Status Indication: Visualise the direction of each timeframe.
3. Dynamic Status Indication: Visualize the trading status for each asset:
i. Monitor: Asset is under review or surveillance.
ii. Confirmation: A potential trading signal or setup is being confirmed.
iii. Entry Set: An order for the asset has been placed.
iv. Forward-Test: An asset under monitored for it to being forward test.
4. Strategy Indication: Each asset can be tagged with a specific strategy identifier:
i. CKL: Confluence Key Level
ii. UKL: Un-Confluence Key Level
iii. SMC: Smart Money Concept
iv. BRT: Break & Re-Test
v. RTNKL: Re-Test of New Key Level
5. Stylisation: Color-code the statuses, table and fonts to suit your visual preference.
How to use
1. Asset Name: Select asset from the list
2. Timeframe Direction: Choose direction for each timeframe.
3. Status Selection: Choose the current trading status for each asset.
4. Strategy Selection: Assign a trading strategy to each asset.
5. Style: Customise the appearance of your trading plan by selecting preferred colours for different statuses and headers.
Conclusion
The NCI Trading Plan ensures a systematic and organised approach to multi-time frame trading. By maintaining a visual overview of multi-time frame analysis and their corresponding trading statuses and strategies, traders can efficiently manage their portfolio and ensure timely decision-making.
Tip: To reset or modify an asset's status or strategy, simply adjust the settings in the panel on the left. The table will update in real-time.
NCI Trading Plan - By LightNCINCI Trading Plan - By LightNCI
NCI, which stands for New Concept Integration by Jayce PHAM, is a comprehensive approach that incorporates various critical aspects of trading to provide a logical, structured, and integrated approach to the financial markets. NCI covers market structure, key levels, smart money concepts, multiple timeframes and market cycles
About the NCI Trading Plan Indicator
The NCI Trading Plan is just a table allowing traders to keep track of multiple assets on a single chart, ensuring a comprehensive overview of trading statuses and strategies for each asset. The status is not automatically update. Using the NCI strategy, you may update it yourself the status of each asset.
Features
1. Display up to 10 different assets: Designed to support multi-asset trading strategies.
2. Dynamic Status Indication: Visualize the trading status for each asset:
i. Monitor: Asset is under review or surveillance.
ii. Confirmation: A potential trading signal or setup is being confirmed.
iii. Entry Set: An order for the asset has been placed.
iv. Forward-Test: An asset under monitored for it to being forward test.
3. Strategy Indication: Each asset can be tagged with a specific strategy identifier:
i. CKL: Confluence Key Level
ii. UKL: Un-Confluence Key Level
iii. SMC: Smart Money Concept
iv. BRT: Break & Re-Test
v. RTNKL: Re-Test of New Key Level
4. Customisable Display: Choose which assets you wish to display with a simple toggle on/off feature.
5. Stylisation: Color-code the statuses, table and fonts to suit your visual preference.
How to use
1. Toggle Display: Use the "Show Asset" checkboxes to determine which assets are visible.
2. Asset Name: Assign a name or symbol to each asset.
3. Status Selection: Choose the current trading status for each asset.
4. Strategy Selection: Assign a trading strategy to each asset.
5. Style: Customise the appearance of your trading plan by selecting preferred colours for different statuses and headers.
Conclusion
The NCI Trading Plan ensures a systematic and organised approach to multi-asset trading. By maintaining a visual overview of various assets and their corresponding trading statuses and strategies, traders can efficiently manage their portfolio and ensure timely decision-making.
Tip: To reset or modify an asset's status or strategy, simply adjust the settings in the panel on the left. The table will update in real-time.
Price Action (ValueRay)With this indicator, you gain access to up to 5 moving averages from a selection of 15 different types. This flexibility allows you to customize your trading strategy based on your preferences and market conditions. Whether you're a fan of simple moving averages, exponential moving averages, or weighted moving averages, our indicator has got you covered! Additionally, all the MAs are Multi-Time-Frame!
The indicator also provides trading signals. By analyzing market trends and price movements, it generates accurate buy and sell signals, providing you with clear entry and exit points. You can choose between Fast, Mid, and Slow signal speeds.
Trendlines are another crucial aspect of effective trading, and our indicator seamlessly integrates them, helping you visualize the market's direction.
Furthermore, the indicator empowers you with recent highs and lows. By highlighting these key levels, it becomes easier than ever to spot support and resistance areas, aiding you in making well-informed trading choices.
Additionally, you can switch the ADR% (Average Daily Range as a Percentage) on and off. This number instantly provides you with information on how much the stock usually moves per day as a percentage.
Key Features:
Up to 5 Moving Averages, each with its own timeframe.
SMA, EMA, WMA, RMA, Triangular, Volume Weighted, Elastic Volume Weighted, Least Squares, ZLEMA, Hull, Double EMA, Triple EMA, T3, ALMA, KAMA (more to come in future versions).
Recent High and Low Pivot Points acting as support/resistance.
Trendline indicating the current trend.
Buy/Sell Signals (recommended for use as exit points, stop loss, or take profit levels).
Signals can have three different speeds: Fast, Mid, and Slow. You can switch them anytime depending on how quickly or slowly you want to exit a trade.
The predefined colors are best suited for a dark background, and the predefined settings provide a solid starting point that many traders use in their daily work.
Unlock the full potential of your trading strategy with our comprehensive indicator and start making informed trading decisions today!
market sessions by sellstreetIndicator of trading sessions:
Indicator created to track the opening of trading sessions:
Asia, Frankfurt, London, New York.
Tracking the opening of these key levels
- Day Opening (DO), Week Opening (WO), Month Opening (MO).
- New York (NYM) openings display.
- Highs and lows of the previous day (PDH/PDL).
- Day of the week display.
- Formation of the Сentral Bank Dealers Range (CBDR).
Indicator settings.
The open source code will help traders to understand the technical part of the script.
Flexible visual and technical setup of the indicator:
- Ability to enable/disable the display of trading sessions on the history.
- Enabling/disabling the display of the key opening levels on the chart history for a convenient backtest.
- Automatically switch to summer/winter time.
To use this indicator, add it to your favorites after the chart
TradingView must be overloaded to work correctly.
SPY SPX ES Price Converter [Pt]A must have tool for SPY SPX ES traders~!!!
Description
The SPY SPX ES Price Converter is a powerful and easy-to-use tool that allows traders to view corresponding price levels for linked instruments in real-time. This includes SPY, SPX, ES, and SPX500USD. Although these instruments often move in sync, differences in price movements, volume, and trading hours can create unique key levels and support/resistance areas for each. By mapping these levels on the same chart, traders can more easily spot trading opportunities and improve their chances of success.
Customizable features
- multiplier from the closest whole number price level
- line color
- line style
- label position / size
- # of levels to display
- toggle current price display table
Pivot Point Moving Average (PPMA)The script is an implementation of an indicator called "PPMA", which stands for "Pivot Point Moving Average." This indicator is designed to be used as a overlay, meaning that it will be plotted on top of the underlying asset's price chart.
The main function of the PPMA indicator is to calculate a moving average based on pivot points of the underlying asset. Pivot points are commonly used in technical analysis to identify key levels of support and resistance, and this indicator uses the pivot points in a unique way to calculate the moving average.
The indicator's main function, "ppma()," is defined as taking two input parameters, "left" and "right." These parameters determine the number of bars to the left and right of a pivot point that will be used to calculate the moving average. The function uses the "ta.pivothigh()" and "ta.pivotlow()" functions to identify pivot points for the high and low prices, respectively. Then the function uses the "ta.change()" function to identify if there is a change in pivot point.
The function keeps track of the number of bars and their sum from the last pivot point until the next pivot point is reached. If there is a change in pivot point, it will reset the count and sum. It will return the sum divided by the count, which is the moving average of the prices between the two pivot points.
The script then uses the PPMA function to plot the moving average on the chart using the "plot()" function. The user is able to adjust the number of bars to the left and right of the pivot point using the "left" and "right" input parameters.
In summary, the PPMA indicator is a unique moving average that uses pivot points to calculate the average. It is designed to be used as an overlay on top of an underlying asset's price chart and can be adjusted by the user to suit their needs. It can help traders identify key levels of support and resistance in the underlying asset.
R:R Trading System FrameworkFirst off, huge thanks to @fikira! He was able to adapt what I built to work much more efficiently, allowing for more strategies to be used simultaneously. Simply put, I could not have gotten to this point without you. Thanks for what you do for the TV community. Second, I am fairly new to pinescript writing, so I welcome criticism, thoughtful input and improvement suggestions. I would love to grow this concept into something even better, if possible. So please let me know if you have any ideas for improvement. However I do juggle a lot of different things outside of TV, so implementations may be delayed.
I have decided, at this time, not to add alerts. First, because I feel most people looking to adapt this framework can add their own pretty easily. Also, given how customized the framework is currently, while also attempting to account for all the possible ways in which people may want alerts to function after they customize it, it seems best to leave them out as it doesn't exactly fit the idea of a framework.
For best viewing, I recommend hovering over the script's name > ... > Visual order > Bring to front. Also I found hollow candles with mono-toned colors (like pictured) are more visually appealing for me personally. I HIGHLY RECOMMEND USING WITH BAR REPLAY TO BETTER UNDERSTAND THE FRAMEWORK'S FUNCTIONALITY.
▶️ WHAT THIS FRAMEWORK IS
- A huge collection of concepts and capabilities for those trying to better understand, learn, or teach pinescript.
- A system designed to showcase Risk:Reward concepts more holistically by providing all of the most popular components of retail trading to include backtesting, trade visual plotting, position tracking, market condition shifts, and useful info while positioned to help highlight changes in your risk:reward based decision-making processes.
- A system that can showcase individual strategies regardless of trade direction, allowing you to develop hedging strategies without having multiple indicators that do not correlate with each other.
- Designed around the idea that you trade less numbers of assets but manage your positions and risk based on multiple concurrently running strategies to manage your risk exposure and reward potential.
- An attempt to combine all the things you need to execute with an active trading management style.
- A framework that uses backtested results (in this case the number of averaged bars it takes to hit key levels) in real-time to inform your risk:reward decision-making while in-trade (in this case in your Trade Tracking Table using dynamic color to show how you might be early, on-time, or late compared to the average amount of backtested time it normally takes to hit that specific key level).
▶️ WHAT THIS FRAMEWORK IS NOT
- A complete trading product. DO NOT USE as-is. It is a FRAMEWORK for you to generate ideas of your own and fairly easily implement your own triggering conditions in the appropriate sections of the script.
▶️ USE CASES
- If you decide you like the Stop, Target, Trailing Stop, and Risk:Reward components as-is, then just understanding how to plug in your Entry and Bullish / Bearish conditions (Triangles) and adjust the input texts to match your custom naming will be all you need to make it your own!
- If you want to adapt certain components, then this system gives you a great starting point to adapt your different concepts and ideas from.
▶️ SYSTEM COMPONENTS
- Each of the system's components are described via tooltips both in the input menu and in the tables' cells.
- Each label on the chart displays the corresponding price at those triggered conditions on hover with tooltips.
- The Trailing Stop only becomes active once it is above the Entry Price for that trade, and brightens to show it is active. The STOP line (right of price) moves once it takes over for the Entry Stop representing the level of the Trailing Stop at that time for that trade.
- The Lines / Labels to the right of price will brighten once price is above for Longs or below for Shorts. The Trade Tracking Table cells will add ☑️ once price is above for Longs or below for Shorts.
- The brighter boxes on the chart show the trades that occurred based on your criteria and are color coded for all components of each trade type to ensure your references are consistent. (Defaults are TV built-in strategies)
- The lighter boxes on the chart show the highest and lowest price levels reached during those trades, to highlight areas where improvements can be made or additional considerations can be accounted for by either adjusting Entry triggers or Bullish / Bearish triggers.
- Default Green and Red Triangles (Bullish / Bearish) default to having the same triggering condition as the Entry it corresponds to. This is to highlight either a pyramiding concept, early exit, or you can change to account for other things occurring during your trades which could help you with Stop and Target management/considerations.
TradingView and many of its community members have done a lot for me, so this is my attempt to give back.
Mean recursion envelopeFree for public consumption
There is very little original here, the idea is discussed in the underground traders alliance, (google em), and was apparently the basis of what was at one time myfxbooks most profitable strategy.
I can't find the original video that was floating around on youtube, but if i find it again, i'll link it here.
This is bascially just the TV default envelope code copied and modified.
The idea is to have an envelope based on a low length, exponential basis. Then to manually "tune" the percent input so that the envelopes engulf most bars. Whenever price goes outside the envelopes (especially at key levels), look for a change to enter a reversion back to the ema.
This manual tuning when switching between time-frames and symbols of the percentage input, becomes arduous.
Instead this script uses the TV envelope code, but gets a setting based on the average of true range and "autotunes" with this.
Anything that protrudes beyond that level, especially at key levels, is likely to revert back to the ema. Bear in mind, a run away trend will also push past the envelopes and continue running for several (3-5) bars so, use it mindfully and thoughtfully with all the usual cautions about risk management.
Monthly Weekly Daily Hourly CLOSESDraws horizontal segments where the last Monthly, Weekly, Daily and Hourly closes are.
Easily identify current price relative position to these key prices.
I use it as a kind of pivot points and help me with trend following entries: longs if up from last close, shorts if down from last close.
Monthly: red line (MMMMM)
Weekly: orange line (WWWWW)
Daily: yellow line (DDDDD)
Hourly: white line (HHHHH)
//Original idea from "Key Levels
eBacktesting - Learning: Change of CharactereBacktesting - Learning: Change of Character helps you spot a “Change of Character” (CHoCH) — the moment price stops behaving one way and starts behaving the other.
It does this by tracking clear swing highs and swing lows, then marking the first **candle close** that breaks structure **against** the current move:
- Bullish CHoCH: price shifts from making lower structure to breaking above a key swing high.
- Bearish CHoCH: price shifts from making higher structure to breaking below a key swing low.
Use CHoCH to practice timing: early trend shifts, reversals, and potential new legs — especially when combined with your usual confluence (liquidity, premium/discount, key levels, sessions, etc.).
These indicators are built to pair perfectly with the eBacktesting extension, where traders can practice these concepts step-by-step. Backtesting concepts visually like this is one of the fastest ways to learn, build confidence, and improve trading performance.
Educational use only. Not financial advice.
ZTC Key Levels IndicatorPick the levels of your likely and set bias for and entry levels for your needs.
